A3419

New Jersey A3419 eliminates transaction nexus requirements for Sales and Use Tax and Corporation Business Tax.

New Jersey A3419 amends the Sales and Use Tax Act and Corporation Business Tax Act by removing the requirement for a physical presence or a specific number of transactions to establish tax nexus. Under this bill, remote sellers will only be required to collect and remit sales tax if their gross revenue from taxable transactions delivered into the state exceeds $100,000 in the current or prior calendar year. Similarly, corporations will only be subject to the Corporation Business Tax if their receipts from sources within the state exceed $100,000 in the corporation's fiscal or calendar year.